Hello, I got these Binocular, I understand that the Nikon A211 is product name and what the magnification of 16*50 and fov at 4.2 mean, however I'm not sure what the 7037790 are there for or what they represent? Is it a number that is handy at all in terms of finding out more information about the binocular? Thanks
Having worked in mortgage departments at banks and now as an independent mortgage broker, I've always been surprised by the number of people I meet who are building property portfolios, unaware of portfolio landlord rules.
Once you hit 4+ BTL properties, most lenders stop assessing new applications in isolation. Instead, they look at everything: your entire portfolio stress-tested together, total debt vs total rental income, void risk, rate sensitivity across every property.
Below 4, a new deal mostly stands or falls on its own merits, rental coverage, deposit, your income. Straightforward. At 4+, one underperforming property or slightly weak coverage elsewhere can cause a new application to fail, even if the deal you're actually trying to do looks perfectly fine on its own numbers.
The 2017 PRA standard is 4+ BTL, but some lenders set their own threshold. Vernon Building Society, for example, doesn't treat you as a portfolio landlord until 6+ properties, meaning you might still get assessed on a standard basis at 4 or 5 with them while most others are stress-testing everything.
Some lenders also have hard caps of what you can do with them, BM Solutions a major player in the BTL scene has a £5m lending limit and a maximum of 10 properties including any wider Lloyds Banking Group exposure. At scale, you can hit a point where certain lenders simply won't lend to you regardless of how strong the deal is.
When you do go through a portfolio landlord application, expect to provide a full portfolio schedule, property values, mortgage balances, rental income, AST agreements, rental statements and sometimes a written explanation of your strategy and future plans.
If you're at two or three properties and planning to keep going, it's worth understanding this before you hit the threshold, as lack of awareness costs people time and money.